Vol. 11, No. 18 – August 31, 2009
Penn Future Facts
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If the Senate Republicans have their way, and the $1 million in lobbying money spent this year by gas drillers has enough Democrats towing the industry line, the state budget crisis will be resolved without the enactment of a severance tax on natural gas drilling. And the loser would be the Pennsylvania taxpayer.
Multi-billion dollar Texas and Oklahoma-based energy companies as well as multi-national corporations like ExxonMobil are rushing to lock up drilling leases on millions of acres in the Marcellus Shale deposit that underlies most of Pennsylvania. The deposit is the largest and richest in North America. One company alone has identified 3,900 potential drilling sites in southwestern Pennsylvania.